Knight-Swift Transportation (NYSE:KNX) Hits New 52-Week High – Here’s What Happened

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $82.46 and last traded at $82.44, with a volume of 3620812 shares trading hands. The stock had previously closed at $79.25.

Analysts Set New Price Targets

KNX has been the topic of several recent research reports. Weiss Ratings raised shares of Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. Robert W. Baird increased their price target on shares of Knight-Swift Transportation from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Citigroup upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Friday, March 13th. Evercore upgraded shares of Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Friday, March 27th. Finally, Stifel Nicolaus increased their price target on shares of Knight-Swift Transportation from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Knight-Swift Transportation presently has an average rating of “Moderate Buy” and a consensus target price of $70.19.

Knight-Swift Transportation Stock Down 1.3%

The firm has a market capitalization of $13.22 billion, a price-to-earnings ratio of 387.35, a P/E/G ratio of 1.05 and a beta of 1.18. The business’s 50-day moving average is $68.08 and its two-hundred day moving average is $59.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. On average, equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.14 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Monday, June 8th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, June 8th. Knight-Swift Transportation’s dividend payout ratio (DPR) is 380.95%.

Institutional Trading of Knight-Swift Transportation

Several hedge funds have recently bought and sold shares of KNX. Integrated Wealth Concepts LLC raised its holdings in Knight-Swift Transportation by 23.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,948 shares of the transportation company’s stock worth $259,000 after buying an additional 1,124 shares during the period. Focus Partners Wealth acquired a new stake in Knight-Swift Transportation during the 1st quarter worth approximately $451,000. Cetera Investment Advisers raised its holdings in Knight-Swift Transportation by 6.9% during the 2nd quarter. Cetera Investment Advisers now owns 13,724 shares of the transportation company’s stock worth $607,000 after buying an additional 882 shares during the period. Invesco Ltd. raised its holdings in Knight-Swift Transportation by 57.7% during the 2nd quarter. Invesco Ltd. now owns 1,087,719 shares of the transportation company’s stock worth $48,110,000 after buying an additional 398,116 shares during the period. Finally, First Trust Advisors LP raised its holdings in Knight-Swift Transportation by 54.3% during the 2nd quarter. First Trust Advisors LP now owns 491,702 shares of the transportation company’s stock worth $21,748,000 after buying an additional 172,956 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.